Forecast
Period | 2026-2030 |
Market
Size (2024) | USD 1.3
billion |
CAGR
(2025-2030) | 12.5% |
Fastest
Growing Segment | Electric |
Largest
Market | North
India |
Market
Size (2030) | USD 2.5
billion |
Market Overview
India Premium Motorcycles market was valued at USD 1.3 billion in 2024 and is projected to reach approximately USD 2.5 billion by 2030, expanding at a CAGR of 12.5% during the forecast period. The Indian premium motorcycles market has been experiencing remarkable growth
over the past few years. This growth can be attributed to several factors,
including the increasing income levels of individuals and the growing
aspiration among the young population for luxury and high-performance
motorcycles as well as the growing urban infrastructure of the country.
For instance, India is undergoing a rapid urban transformation, with projections indicating that by 2036, 600 million people will reside in urban areas, accounting for 40% of the population. This urban expansion is expected to contribute 75% of the nation's GDP by 2031. To manage this growth, the World Bank emphasizes the need for a comprehensive approach, including improved urban planning, enhanced municipal financing, and strengthened governance. Key recommendations include developing robust urban infrastructure, ensuring sustainable service delivery, and fostering economic opportunities to accommodate the increasing urban population.
These motorcycles, typically defined as bikes with an engine
capacity of 500cc or above, are not only in demand in metro cities but also in
tier 2 and tier 3 cities. In
this thriving market, there are key players who have established themselves as
leaders. International brands such as Harley-Davidson, Triumph, BMW, and Ducati
have made their mark, offering premium motorcycles with top-notch performance
and style. Alongside these global players, domestic manufacturers like Royal
Enfield have also gained significant market share by catering to the diverse
preferences of Indian consumers.
Key Market Drivers
Rising
Disposable Incomes
One
of the primary drivers of the India Premium Motorcycles Market is the
increasing disposable income of the Indian population. As the country's economy
continues to grow, more individuals have higher levels of income available for
discretionary spending. This provides consumers with the financial capacity to
afford premium motorcycles, which often come with a higher price tag compared
to mass-market alternatives. Rising disposable incomes make premium motorcycles
more accessible to a broader segment of the Indian population, contributing to
market expansion. For instance, In Asia-Pacific, China and India show the most notable increases, with China’s income rising to USD 31,383 and India’s to USD 17,609 by 2050.
Passion
for High-End, Performance-Oriented Motorcycles
There
is a growing passion among Indian consumers for high-end, performance-oriented
motorcycles. Many riders and enthusiasts are looking beyond basic
transportation and seeking motorcycles that offer exhilarating performance,
advanced technology, and distinctive design. Premium motorcycles, known for
their superior performance and innovative features, are increasingly preferred
by riders who value the thrill of riding and are willing to invest in a
motorcycle that reflects their passion for two-wheelers. For instance, In April-August 2024, premium motorcycles (above 150cc) in India grew to 1.24 million units from 1.07 million, outpacing entry-level bikes, which rose to 3.87 million from 3.46 million. The premium segment’s share has grown to 24%, up from over 80% for entry-level bikes a decade ago.
Surge
in Young Riders
The
India Premium Motorcycles Market is also driven by a surge in the number of
young riders. As more young individuals enter the workforce and achieve
financial independence, they are drawn to premium motorcycles that offer a
unique blend of style, performance, and status. Young riders often prioritize
motorcycles as a form of self-expression and adventure, driving demand for
premium bikes that align with their aspirations. The Indian two-wheeler market grew by 7.71% year-on-year in FY25, reaching total retail sales of 1.89 crore units. This growth was mainly fueled by the rural segment, which expanded by 8.39%, surpassing the urban market’s 6.77% growth, highlighting the increasing demand in rural areas.
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Key Market
Challenges
High
Import Duties and Taxes
One
of the most significant challenges in the India Premium Motorcycles Market is
the imposition of high import duties and taxes. Premium motorcycles, often
manufactured by international brands, are subject to substantial import tariffs
and taxes, which significantly increase the retail price. These high costs can
be a deterrent for potential buyers, as premium motorcycles become considerably
more expensive in India compared to other markets. As a result, the market's
growth potential is constrained, and many consumers may opt for more affordable
alternatives.
Limited
Road Infrastructure and Traffic Conditions
The
road infrastructure and traffic conditions in India present a challenge for
premium motorcycle ownership. While premium motorcycles are designed for
high-performance and long-distance rides, India's road network varies in
quality, and traffic congestion is prevalent in urban areas. Navigating these
conditions can be challenging for riders, affecting the overall experience and
utilization of premium motorcycles. As a result, potential buyers may hesitate
to invest in high-performance bikes due to concerns about practicality and
comfort.
Cost
of Ownership and
Maintenance
Owning
a premium motorcycle in India can be costly not only in terms of the purchase
price but also in terms of ongoing ownership and maintenance expenses. Premium
bikes often require specialized servicing and replacement parts, which can be
expensive and may not be readily available in all regions. The cost of
maintenance and the availability of service centers are significant
considerations for potential buyers, influencing their decision to invest in a
premium motorcycle.
Key Market Trends
Growth
of the Adventure Touring Segment
Adventure
touring motorcycles, known for their capability to handle both on-road and
off-road terrain, have seen a surge in popularity in the India Premium
Motorcycles Market. This trend is driven by the increasing number of riders
seeking adventure and exploration. These motorcycles are equipped with advanced
features, such as long-travel suspension, robust off-road tires, and
comprehensive electronics packages, making them ideal for touring and adventure
riding. Manufacturers are introducing new models and expanding their adventure
touring portfolios to cater to this growing demand. Riders are increasingly
looking beyond traditional cruiser and sports bike options, embracing the
versatility and adventure-ready nature of these motorcycles.
Shift
Towards Electric Premium Motorcycles
The
global shift towards electric mobility is influencing the India Premium Motorcycles
Market as well. Electric premium motorcycles, which are known for their quiet
operation, instant torque, and eco-friendly credentials, are gaining traction.
While the market for electric premium motorcycles is still in its nascent
stages in India, several manufacturers are investing in electric bike
development. As battery technology improves and charging infrastructure
expands, electric premium motorcycles are expected to play a more significant
role in the market, catering to environmentally conscious riders.
Entry
of New International Players
The
India Premium Motorcycles Market is witnessing the entry of new international
players. Global premium motorcycle manufacturers are increasingly recognizing
the growth potential in the Indian market and are introducing their models.
This influx of international brands is diversifying the market and offering
Indian consumers a broader selection of premium motorcycles. New entrants are
introducing various segments, from sport-touring bikes to naked streetfighters,
enhancing competition and choice for consumers.
Growing
Popularity of Retro and Classic Designs
Retro
and classic designs have gained popularity in the India Premium Motorcycles
Market. These motorcycles harken back to the aesthetics of classic bikes from
the past, featuring vintage-inspired elements like round headlamps, spoked
wheels, and minimalistic bodywork. Riders are drawn to the nostalgic charm and
timeless appeal of these motorcycles. Manufacturers are capitalizing on this
trend by introducing modern bikes with retro styling, offering a blend of
classic aesthetics with contemporary performance and technology.
Segmental Insights
Engine
Capacity Insights
The
Indian premium motorcycle market is currently experiencing a remarkable surge
in engine capacity preferences. As riders seek greater exhilaration, improved
performance, and enhanced riding experiences, there is a growing inclination
towards motorcycles with larger engine capacities. Notably, motorcycles with
engine capacities of 500cc and above have emerged as a substantial segment of
the market, indicative of a notable shift from the previously dominant
200cc-300cc engine range.
This
evolving trend has spurred manufacturers to introduce new and exciting models
in this segment, further stoking the growth and dynamism of the Indian premium
motorcycles market. With an expanding range of options and a keen emphasis on
power and performance, motorcycle enthusiasts can look forward to an
exhilarating and fulfilling riding experience like never before. In
addition to the increasing engine capacities, manufacturers are also focusing
on incorporating advanced technologies and features into their motorcycles.
From sophisticated traction control systems to customizable riding modes, these
innovations are aimed at providing riders with the ultimate control, comfort,
and safety on the road. Furthermore,
the surge in engine capacity preferences has not only influenced the design and
performance aspects of motorcycles but has also brought about changes in the
accessory and aftermarket industry. With a growing demand for performance
upgrades and customization options, riders now have a plethora of choices to
personalize their motorcycles according to their preferences and style. With
all these developments, the Indian premium motorcycle market is poised for an
exciting future. The combination of increased engine capacities, advanced
technologies, and a wide range of customization options promises an
exhilarating and fulfilling riding experience for motorcycle enthusiasts across
the country.
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Regional Insights
In 2024, North India was expected to lead the premium motorcycle market, driven by higher disposable incomes in cities like Delhi, Gurgaon, and Chandigarh. The region's strong infrastructure, including wide roads and highways, supports long-distance riding—ideal for premium bikes. A rising population of young professionals and entrepreneurs is fueling demand, while the presence of global brands enhances accessibility. Additionally, a growing number of motorcycle clubs and leisure riders in the North are investing in high-performance bikes for recreation. Though demand is rising in other regions, the North remains the dominant market for premium motorcycles in 2024.
The South Region is rapidly growing in the premium motorcycle market, driven by cities like Bangalore, Hyderabad, and Chennai. With a large population of tech professionals and entrepreneurs, higher incomes, and a strong motorcycle culture with active riding clubs, the South is becoming an important market. Premium brands are expanding their presence, making luxury bikes more accessible.
The West Region, including Mumbai, Pune, and Ahmedabad, also plays a key role in the premium segment. Its strong economy, urban population, and good road networks attract long-distance and lifestyle riders. The region’s consumers value motorcycles as a status symbol, and brand events and community rides boost demand, making the West a vital market for premium motorcycles.
Recent Developments
- In
2024, Hero MotoCorp made a strategic move into the European market, announcing plans to introduce electric scooters under its Vida brand in the UK and two other European countries by mid-2025. This expansion marked a significant step for the company as it ventured into developed markets.
- In 2024, Eicher Motors witnessed a 20% year-on-year increase in its Q1 profits, reaching ₹11.01 billion. The growth was largely attributed to strong sales of its higher-margin Royal Enfield models, particularly the Himalayan 450, which contributed significantly to the company’s performance.
- In 2024, Harley-Davidson and Hero MotoCorp further strengthened their partnership by unveiling new variants of the X440 motorcycle. The collaboration focused on introducing a possible scrambler model, aimed at providing customers with a range of options at varying price points, making it more accessible to a wider audience.
- In 2025, TVS Motor Company will launch Norton Motorcycles in India, initially bringing premium models like the Commando 961, V4SV, and V4CR as imports from the UK. These high-end bikes will help build the brand before TVS introduces locally made Norton models in the 350–650cc range to compete with Royal Enfield and Triumph. The India-UK Free Trade Agreement is expected to lower import duties, easing Norton’s entry into the market.
Key Market Players
- Hero MotoCorp Limited
- Eicher Motors Limited
- TVS Motor Company Limited
- Bajaj Auto Limited
- Honda Motorcycle & Scooter India Pvt. Ltd.
- Yamaha Motor India Pvt. Ltd.
- Suzuki Motorcycle India Pvt. Ltd.
- Kawasaki Motors Pvt. Ltd.
- BMW Motorrad India
- Triumph Motorcycles India Pvt. Ltd.
|
By Engine Capacity
|
By Propulsion
Type
|
By Region
|
- 500-800cc
- 801-1600cc
- >1600cc
|
|
|
Report
Scope:
In this
report, the Premium Motorcycles Market has been segmented into the following
categories, in addition to the industry trends which have also been detailed
below:
- India Premium Motorcycles Market, By Engine
Capacity:
o
500-800cc
o
801-1600cc
o
>1600cc
- India Premium Motorcycles Market, By Propulsion Type:
o
ICE
o
BEV
- India Premium Motorcycles Market, By Region:
o
North India
o
West India
o
South India
o
East India
Competitive
Landscape
Company
Profiles: Detailed
analysis of the major companies presents in the India Premium Motorcycles
Market.
Available
Customizations:
India Premium
Motorcycles Market report with the given market data, TechSci Research offers
customizations according to the company’s specific needs. The following
customization options are available for the report: -
Company
Information
- Detailed analysis and profiling of additional
market players (up to five).
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Motorcycles Market is an upcoming report to be released soon. If you wish an
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